You have $36,300 on deposit with no outstanding checks or uncleared deposits. One day you write a check for $3,800 and then deposit a check for $7,200. (Enter your answer as directed, but do not round intermediate calculations.)
Required: What are your disbursement, collection, and net floats? (Negative amounts should be indicated by a minus sign.)
Disbursement float $ Collection float $ Net float $
You have $36,300 on deposit with no outstanding checks or uncleared deposits. One day you write a check for $3,800 and then deposit a check for $7,200. (Enter your answer as directed, but do not round intermediate calculations.)
| Required: |
| What are your disbursement, collection, and net floats? (Negative amounts should be indicated by a minus sign.) |
| Disbursement float | $ |
| Collection float | $ |
| Net float | $ |
Related questions
Each business day, on average, a company writes checks totaling $37,500 to pay its suppliers. The usual clearing time for the checks is six days. Meanwhile, the company is receiving payments from its customers each day, in the form of checks, totaling $48,500. The cash from the payments is available to the firm after four days.
a. Calculate the companyâs disbursement float, collection float, and net float. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)
| Disbursement float | $ |
| Collection float | $ |
| Net float | $ |
b. Calculate the company's disbursement float, collection float, and net float, if the collected funds were available in two days instead of four. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)
| Disbursement float | $ |
| Collection float | $ |
| Net float | $ |
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Each business day, on average, a company writes checks totaling $40,000 to pay its suppliers. The usual clearing time for the checks is four days. Meanwhile, the company is receiving payments from its customers each day, in the form of checks, totaling $51,000. The cash from the payments is available to the firm after two days.
a. Calculate the companyâs disbursement float, collection float, and net float. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)
| Disbursement float | $ |
| Collection float | $ |
| Net float | $ |
b. Calculate the company's disbursement float, collection float, and net float, if the collected funds were available in one day instead of two. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)
| Disbursement float | $ |
| Collection float | $ |
| Net float | $ |
